Dhan is a modern stock trading and investment platform designed for India’s traders and investors. In this case study, we will explore the Paid Watchlist Feature introduced in the Dhan App
Problem statement
The Dhan app allows users to create up to 10 free watchlists to track stocks. For advanced users who need to track multiple sectors or a larger number of stocks, the app seeks to offer a paid feature that expands this limit, enabling the creation of 10 additional watchlists, ensuring that it does not disrupt the app's existing workflow.
Solution
To address this need, we introduced a paid feature in the Dhan app, offering 10 additional watchlists for ₹499 per year. This helps cover the extra storage and processing costs while providing value to users who require more extensive tracking.
The design approach for this feature likely followed a user-centered methodology, focusing on the following aspects:
Empathy with Users
Empathized with power users, understanding their pain points and need for flexibility
Also understood that adding more watchlists would require significant backend upgrades to handle the increased data.
Ideation & Prototyping
Tested various flows for communicating the value of additional watchlists.
Brainstormed ideas around clear information, intuitive payment flow, and ensuring no disruption in the core experience.
Usability
Ensuring that the feature feels like a natural extension rather than a hard sell.
Use of clean, minimal visuals and straightforward prompts.
Scalability
Architecture can easily be expanded to offer additional premium features.( Same has been used for additional price alerts)
Our design approach focused on simplicity, clarity, and usability. We crafted the screens by focusing on three key stages of the user journey, ensuring a intuitive experience throughout the feature implementation.
Discovery & Consideration
A prompt in the Watchlist Management section ensures users are reminded of the value of upgrading to the paid feature.
Advanced users who reach the 10 free watchlists limit will be given the option to upgrade
Evaluation & Purchase
Provide a seamless and intuitive process for users to evaluate and subscribe to the paid feature.
If users lack sufficient funds, integrated payment flow allows to quickly top up their account
Ongoing Engagement
Ensuring long-term engagement and satisfaction with the paid feature,
Renewal reminders are sent well in advance with a smooth renewal process to avoid disruption.
Conclusion
The paid watchlist feature effectively meets the needs of power users while supporting the business goal of generating revenue through value-added services, all without excluding regular users who can continue to benefit from the free version.